Deluxe Retail Limited (06757263): administration
- Status
- Administration ended
- Administration began
- 2012-01-25
- Formerly
- Winter SKY Retail Limited
- Incorporated
- 2008-11-25
- Location
- Winchmore Hill
- Industry
- 47710 Retail sale of clothing in specialised stores
Why it went into administration
- Property / lease costs
- Sustained trading losses
- Competition / price pressure
- Cash flow / liquidity pressure
- Weather / natural events
From the administrators' statement
Deluxe Retail Limited t/a Madhouse (“the Company”) was incorporated on 25 November 2008, under the name Winter Sky Retail Limited, specifically to acquire the business and assets of Madhouse UK Limited which, itself, entered Adminstration on 29 January 2009 The Company subsequently changed its name to its present style on 10 May 2010
Since the acquisition, the Company has traded as a retailer of branded clothing for men, women and children Trading took place from a variety of High Street and Shopping Centre leasehold outlets throughout the UK Latterly, the Company employed 1n excess of 500 employees
Trading was mutially successful in 2009 and the period ending 31 January 2010 resulted in a turnover of £30M producing a net profit, after tax of £156,912 The following year saw a significant reduction in turnover and a loss of £196,417 This was mainly due to the fact that margins had to be reduced as competitors were selling stmilar brands at far lower prices
Administrators' statement of proposals (2012-03-06) · Companies House register